The 'Double Cost Crunch' poses a dual challenge for India: managing increasing physical climate risks while transforming its economy to be climate-neutral. Delaying this transition could exacerbate climate risks, leading to higher future damages, adaptation needs, and financing requirements. The analysis underscores the importance of immediate action to mitigate these risks and ensure sustainable economic growth. Vulnerable populations and sectors reliant on stable climate conditions are likely to face the most severe impacts.